Crypto Heads for Worst Week Since Pandemic Turmoil

(Bloomberg) -- Digital tokens are set for their biggest drop over a week since the market turmoil that accompanied the onset of the pandemic last year. The Bloomberg Galaxy Crypto Index is poised to tumble more than 25%, the most since a decline of over 40% in the week through March 13, 2020. Elon Musk’s criticism of Bitcoin’s energy use, margin calls amid high volatility and the prospect of growing regulatory oversight together triggered a tailspin in virtual currencies.

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